Pinnacle West Capital (NYSE:PNW) Reaches New 52-Week High – Should You Buy?

Pinnacle West Capital Corporation (NYSE:PNW) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $105.08 and last traded at $104.7050, with a volume of 91987 shares changing hands. The stock had previously closed at $103.27.

Wall Street Analysts Forecast Growth

PNW has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Stifel Nicolaus set a $107.00 price objective on shares of Pinnacle West Capital in a research report on Thursday, February 26th. Wall Street Zen lowered shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Saturday. Argus lifted their price target on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, TD Cowen upped their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.50.

Pinnacle West Capital Price Performance

The stock has a 50 day moving average of $101.74 and a two-hundred day moving average of $96.87. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60. The stock has a market cap of $12.69 billion, a PE ratio of 19.50, a PEG ratio of 3.79 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts anticipate that Pinnacle West Capital Corporation will post 4.7 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, May 4th. Pinnacle West Capital’s payout ratio is presently 67.78%.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the sale, the executive vice president owned 6,634 shares of the company’s stock, valued at $656,766. This trade represents a 49.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Aristotle Capital Boston LLC acquired a new position in shares of Pinnacle West Capital in the 3rd quarter valued at $1,007,000. Gotham Asset Management LLC grew its stake in shares of Pinnacle West Capital by 37.4% in the 3rd quarter. Gotham Asset Management LLC now owns 367,950 shares of the utilities provider’s stock valued at $32,990,000 after purchasing an additional 100,120 shares during the period. First Trust Advisors LP grew its stake in shares of Pinnacle West Capital by 6.3% in the 3rd quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock valued at $117,223,000 after purchasing an additional 76,930 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Pinnacle West Capital by 8.5% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock worth $647,679,000 after buying an additional 568,581 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of Pinnacle West Capital by 53.0% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 277,946 shares of the utilities provider’s stock worth $24,654,000 after buying an additional 96,236 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.